Equitable (NYSE:EQH) Sets New 52-Week Low – What’s Next?

Equitable Holdings, Inc. (NYSE:EQH) shares reached a new 52-week low on Monday . The company traded as low as $40.50 and last traded at $40.5840, with a volume of 747680 shares traded. The stock had previously closed at $44.22.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EQH. UBS Group dropped their target price on shares of Equitable from $67.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Raymond James Financial set a $60.00 price target on Equitable in a report on Monday, January 5th. Wall Street Zen lowered Equitable from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Mizuho set a $65.00 target price on Equitable in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company lowered their price target on Equitable from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Equitable has an average rating of “Moderate Buy” and an average target price of $62.42.

Equitable Stock Down 9.2%

The company has a quick ratio of 0.13, a current ratio of 0.10 and a debt-to-equity ratio of 16.42. The company has a fifty day moving average price of $46.72 and a 200-day moving average price of $48.66. The stock has a market capitalization of $11.51 billion, a P/E ratio of -8.33, a PEG ratio of 0.34 and a beta of 1.12.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, March 4th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.7%. Equitable’s payout ratio is presently -22.41%.

Equitable announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 11th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Equitable

In other news, CAO William James Iv Eckert sold 4,300 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $47.27, for a total value of $203,261.00. Following the sale, the chief accounting officer directly owned 15,625 shares in the company, valued at $738,593.75. The trade was a 21.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nick Lane sold 30,000 shares of Equitable stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $47.87, for a total value of $1,436,100.00. Following the completion of the transaction, the insider owned 119,958 shares of the company’s stock, valued at approximately $5,742,389.46. This represents a 20.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 157,280 shares of company stock valued at $7,455,677 over the last quarter. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Equitable

Several large investors have recently modified their holdings of EQH. Johnson Financial Group Inc. purchased a new stake in Equitable during the 3rd quarter valued at $26,000. True Wealth Design LLC increased its position in Equitable by 592.6% during the second quarter. True Wealth Design LLC now owns 561 shares of the company’s stock valued at $31,000 after acquiring an additional 480 shares during the last quarter. Covestor Ltd raised its stake in shares of Equitable by 124.7% in the fourth quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after acquiring an additional 404 shares during the period. Root Financial Partners LLC bought a new stake in shares of Equitable in the 3rd quarter worth about $36,000. Finally, Hilltop National Bank bought a new stake in shares of Equitable in the 3rd quarter worth about $37,000. Institutional investors own 92.70% of the company’s stock.

Equitable Company Profile

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.